Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures. "It makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now," Waller told a gathering of the Money Marketeers of New York University. "I see the hard and soft data on economic activity and the labor market as consistent: The economy is still growing, but its momentum...
European equity markets are expected to start the new trading week on a cautious note, with global political instability dampening investor sentiment. The ongoing political crises in South Korea and France, coupled with the collapse of Syrian President Bashar al-Assad's regime, add to the uncertainty. Additionally, there are no major economic or earnings releases in Europe on Monday. In pre-market trading, futures on the Euro Stoxx 50 and Stoxx 600 were down around 0.15% and 0.1%, respectively. Source: Trading Economics
The Nikkei 225 index rose 0.18% to close at 39,160, while the broader Topix index rose 0.27% to 2,735 on Monday, recovering losses from the previous session and tracking Wall Street's gains at the end of last week. Investors also eyed revised Japanese third-quarter economic growth data, which indicated the country's second straight quarter of expansion. Business sentiment data later this week will be closely watched for further insight into the health of the economy. However, gains were capped by ongoing global political instability. Political crises in South Korea and France, as well as...
Hong Kong stocks were mostly flat on Monday morning, trading around 19,868 after rallying in the previous session, as investors digested China's November CPI and PPI data. Mainland consumer prices rose 0.2% year-on-year, missing market consensus of 0.5% and marking the weakest gain in five months. Producer prices, meanwhile, fell 2.5%, marking a 26-month decline, although easing from a 2.9% drop in October. Source: Trading Economics
China's producer prices fell 2.5% year-on-year in November 2024, after falling 2.9% in the previous month and below market expectations of 2.8%. This marked the 26th straight month of producer deflation, reflecting continued weakness in domestic demand amid Beijing's ongoing efforts to stem the trend. On a monthly basis, producer prices edged up 0.1%, after falling 0.1% in October. For the first 11 months of the year, producer prices shrank 2.1%. Source: Trading Economics
The Nikkei 225 and Topix indexes showed limited movement on Monday, as global political instability weighed on financial markets. Ongoing political crises in South Korea and France, along with the collapse of Syrian President Bashar al-Assad's regime, contributed to the uncertainty. Domestically, Japan's third-quarter economic growth was revised upward, indicating the country's second consecutive quarter of expansion. Investors are now awaiting business sentiment data later in the week to further assess the health of the economy. Notable declines were seen in index heavyweights such as...
According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...